facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

904 Bedford Avenue, Bedford...

Joel Braver Acquires Multifamily Property In Bedford-Stuyvesant For $23.37M
SOLDMultiFamily

Joel Braver Acquires Multifamily Property In Bedford-Stuyvesant For $23.37M

904 Bedford Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA

$23,370,000

$599/SF

Building Size

39,000 SF

Asset Type

MultiFamily

Closing

Jun 13, 2021

AI

Three multifamily properties located at 904 Bedford Avenue, 902 Bedford Avenue, and 908 Bedford Avenue in Bedford-Stuyvesant, Brooklyn have recently been sold in a transaction that closed on June 14, 2021. The buyer, Joel Braver, acquired the properties from seller Richard A Kaplin for a total price of $23,370,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $23,370,000
  • Address: 904 Bedford Avenue, 902 Bedford Avenue & 908 Bedford Avenue, Bedford-Stuyvesant, Brooklyn
  • Market: Bedford-Stuyvesant, Brooklyn
  • Zoning: R7A

The three properties have a combined building square footage (BSF) of 24,000, resulting in a price per BSF of $973. The total lot size is 4,000 square feet, and the sale price per square foot (PPSF) is calculated to be $599 based on the total square footage (SF) of 39,000.

The previous sale of these properties took place on September 11, 2014, with a sale price of $28,600,000. On June 12, 2015, permits for alteration type 2 were issued for the properties.

It is important to note that the properties have a floor area ratio (FAR) of 6.50 and fall under tax class 2.

By acquiring these three multifamily properties in Bedford-Stuyvesant, Joel Braver has made a significant investment in the Brooklyn real estate market. The transaction demonstrates a strong interest in the area and highlights the demand for multifamily assets in this neighborhood.

Players

Joel Braver

Buyer

$148M

vol

4 deals

Buyer

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93